Question

the interest on recurring deposit is calculated using simple interest methods
A)True
B) False​

Answer 1

the answer is true......

Answer 2

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Ans

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The interest on recurring deposit is calculated using simple interest methods .

False

Reason.

------->Simple interest is calculated only on the basis of the principal amount of the loan where the compound interest takes into consideration both the principal amount and the interest that is accumulated.

------->Simple interest is determined by multiplying the interest rate number of periods in That loan with the principle amount.

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